mother's home

[DonnaLa]

My mother passed away this year and appointed me executor of her will. I filed the will in probate court and have letters of testimony. My question is about her home - mortgage company and home owner's insurance. I am living in her home with my children and would like to stay here for 2 more years until my daughter graduates high school. My brother and sister are ok with this. What should we do about the mortgage and insurance that is in my mother's name? I don't think I can qualify for a mortgage and the will just says that her possessions be divided equally among her children. Thank you for your help.

 

[Michael Wechsler]

Have you spoken with anyone regarding this matter, including the mortgage company?

 

[DonnaLa]

Well, I called the mortgage company and they said we needed to get a new title for the house and that we should see a lawyer about doing that. We went to a lawyer and he said we could leave the house in my mother's name and I could manage it as executor of her estate. And in a few years when we are ready to sell, we can put it in all 3 of our names. I was hoping it could be handled this way, I am going to tell the insurance company that mom passed away and I am executor and will live there until we sell. So hopefully we won't have any problems this way.